Dubai / AFP
Dubaiâ€™s DP World, one of the worldâ€™s largest port operators, said on Thursday that a major acquisition and â€œrobustâ€ growth helped its profit to surge 30.7 percent to $883 million in 2015.
Revenues grew 16.3 percent to $3.97 billion, the company said in a statement.
DP Worldâ€™s ports handled 29.1 million TEUs (twenty-foot equivalent units), the standard used for sizing containers in the shipping industry, 2.7 percent up from last year.
The company said it invested around $4 billion in acquisitions including of Dubaiâ€™s logistic provider Economic Zones World (EZW) and Fairview Terminal at Prince Rupert port in Canada.
EZW is an operator of economic zones, technology, logistics and industrial parks.
The financial results in 2015 were â€œdriven by the acquisition of EZW and robust underlying growth,â€ said DP Worldâ€™s chairman Sultan Ahmed bin Sulayem.
â€œThis financial performance has been achieved despite uncertain market conditions, which once again demonstrates the well diversified and resilient nature of our portfolio with its focus on high growth markets,â€ he added.
DP World runs 70 marine terminals across six continents, including Dubaiâ€™s Jebel Ali port, the largest in the Middle East.